Advanced Therapy Medicinal Products Market Size Worth $21.2 Billion By 2028: Grand View Research, Inc.

News provided by

May 12, 2021, 03:35 ET

SAN FRANCISCO, May 12, 2021 /PRNewswire/ -- The global advanced therapy medicinal products market size is expected to reach USD 21.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.2% from 2021 to 2028. The ATMPs (Advanced Therapy Medicinal Products) exhibit the potential to cure diseases by addressing their root cause rather than symptomatic treatment. Thus, ATMPs help deliver transformative advantages which are not offered by conventional treatments. These factors are expected to drive the market over the forecast period.

Key suggestions from the report:

The cell therapy segment accounted for the largest revenue share in 2020 owing to the presence of a high number of approved products in this segment
Increased investment flow to sponsor clinical trials has also spurred the revenue share of the cell therapy segment
Introduction of effective guidelines to support cell therapy manufacturing and the recent approval of advanced therapies further aid in the dominance of the segment
The geographical expansion of Yescarta and Kymriah in Japan and Europe has encouraged the investors to support the development in this space
Recent approvals of gene therapies have significantly accelerated the clinical trials in this segment
COVID-19 pandemic has opened new areas for key players to invest in T-cell research for viral infections
The research community is actively evaluating the potential of advanced therapies in COVID-19 patients, thereby aiding in market growth
North America accounted for the largest revenue share in 2020 owing to the exponential rise in clinical trials pertaining to advanced therapies
Strong pipeline of ATMPs in the U.S. accelerated revenue generation in the region
Also, the shifting focus of U.S.-based companies from conventional drug development to ATMPS is driving regional growth
In Asia Pacific, the market is expected to witness the fastest CAGR owing to expanding ATMP landscape in emerging markets such as China at the forefront
Expanding business of China-based CDMOs has driven regional market growth
Key companies are undertaking various strategic initiatives to maintain their market position. Collaboration between ViGeneron GmbH and Biogen Inc. in January 2021 is one of the notable examples of collaboration in this space
The companies collaborated on the development of an AAV-based gene therapy product for the treatment of inherited eye diseases

Read 225 page research report with ToC on "Advanced Therapy Medicinal Products Market Size, Share & Trends Analysis Report By Therapy Type (CAR-T, Gene, Cell, Stem Cell Therapy), By Region (North America, Europe, APAC, ROW), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/advanced-therapy-medicinal-products-market

The breakthrough approvals of Tecartus and Abecma post-approval of Zolgensma, Kymriah, and Yescarta have bolstered the exceptional advancements in this space. These approvals have spurred the investment flow in this arena thereby driving revenue growth. Key companies are adopting various operation models to accelerate the product manufacturing process.

Furthermore, the market witnessed several acquisitions by players that intended to enter or expand their existing business in this field. Acquisitions of Kite Pharma by Gilead Life Science, AveXis by Novartis, and Juno Therapeutics by Celgene are some major & recent examples. These acquisitions depict the increasing interest of well-established pharma companies in this market. Increasing competition for gene therapy buyouts can lead to hefty premiums.

On the other hand, with the growing consumer demands, the ATMP manufacturers are outsourcing their product manufacturing thereby creating lucrative opportunities for the contract manufacturing organizations. Thus, several CDMOs have expanded their facilities. For instance, in January 2021, FUJIFILM Diosynth Biotechnologies invested USD 40 million for the establishment of a new process development and manufacturing facility for advanced therapies and viral vectors.

Grand View Research has segmented the global advanced therapy medicinal products market on the basis of therapy type and region:

ATMP Therapy Type Outlook (Revenue, USD Million, 2017 - 2028)

Cell Therapy

Stem Cell
Non-stem Cell

Gene Therapy
CAR-T Therapy
Tissue Engineered Product

ATMP Regional Outlook (Revenue, USD Million, 2017 - 2028)

North America

U.S.
Canada

Europe
Asia Pacific

China
Japan
Russia
Australia
India

Rest of World

List of Key Players in Advanced Therapy Medicinal Products (ATMPs) Market

Novartis AG
Gilead Sciences Inc.
TCR2 Therapeutics Inc
Bluebird Bio Inc.
Celgene Corporation
Spark Therapeutics
Kolon TissueGene, Inc.
PHARMICELL Co., Ltd
MEDIPOST;
JCR Pharmaceuticals Co., Ltd.
Vericel Corporation
Organogenesis Inc.

Find more research reports on Pharmaceuticals Industry, by Grand View Research:

Cell And Gene Therapy Clinical Trials Market– The global cell and gene therapy clinical trials market size is expected to reach USD 45.4 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 22.3% from 2021 to 2028.
Oxygen Therapy Market– The global oxygen therapy market is expected to reach USD 18.2 billion by 2024, according to a new study by Grand View Research, Inc.
Hormone Replacement Therapy Market– The global hormone replacement therapy market size is expected to reach USD 39.6 billion by 2027, expanding at a CAGR of 7.7%, according to a new report by Grand View Research, Inc.

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter

SOURCE Grand View Research, Inc.